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USDCAD-SELL

USDCAD SELL USDCAD Update - As the US dollar continues to weaken, we can expect US pairs to continue its downwards trend. Here on USDCAD we can see price has been ranging throughout November, with price bouncing between 1.29451 & 1.31366. We believe price will hit 1.27672 before 2021, which means in order for our short entry we will be waiting for price to break current support. A swing trade position would be more effective on this trade rather than a day trade position, just incase price continues to range. 200+ pip target
Short
by visionlife
The dollar started on the front foot today...The dollar started on the front foot today as equity selling pressure from Tuesday afternoon fed through into Europe this morning with the buck finding a haven bid. However, the risk complex was rangebound throughout most of the session, to find a bid in latter trade on new stimulus discussion hopes. The dollar reversed its gains and traded lower, with the index sub 92.50. Today’s jobless claims data was mixed, as was the Philly Fed, although it had little immediate impact on the greenback. Analysts at ING “remain of the view that the general direction of travel for global markets is warranting a weaker USD across the board, but uncertainty around these two factors may keep risk-assets at check heading into the weekend and put a floor below USD for now”.
Short
by FTUKcom